Bitcoin (XBTUSD, BTC1!, BTM1!) - November 7

6 Kas 2020

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(1D chart)

We have to see if we can get support and climb at the Fibonacci retracement rate point of 15568.5.

In the short term, volatility around November 8 is likely to touch the 15143.0 point or less.
If it falls below the 15143.0 point, you need to make sure it closes above the 15143.0 point.
If not, it is a short-term Stop Loss.

I think you can feel pressure to go up along the uptrend line (7).
As a result, I think there will be sideways progressing near the uptrend line (8).

As the wRSI_SR indicator rises to the overbought period, there is a possibility of a short-term decline.
It remains to be seen if we can support the 15568.5 point on this short-term decline.


(1h chart)
Among the previous short-term strategies, it ended with Stop Loss after entering LONG.

Sideways are in progress around 15568.5.
You should watch this flow fluctuate after the time indicated on the chart.

(LONG)
Entry point: When exceeding 15776.5 point
Target point: 1st 16384.5 points or higher, 2nd 16700.0 points or higher
(However, if you touch the upward trend line (7) and fall, it is Stop Loss.)

(SHORT)
Entry point: When breaking down from the 15102.0 point
Target point: 1st 14.669.0 point or less, 2nd 14321.5 point or less
(However, if it rises after touching the upward trend line (8), it is Stop Loss.)

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(CME Bitcoin (BTC1!) 1D chart)

It closed lower after the gap rose.
You need to see if it can open above the uptrend line (7).

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(BAKKT Bitcoin (BTM1!) 1D chart)

It closed lower after the gap rose.
We need to see if it can rise along the uptrend line (7).

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(BTC Dominance 1D Chart)

It fills the previous gap of 66.39-64.63 and is on a decline.
We have to watch for possible movements that deviate from 64.63-65.89.

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(USDT Dominance 1D Chart)

It remains to be seen if the volatility around November 7th (November 6-8) could lead to movement outside the 3.760-rising trendline (4).

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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME and BAKKT exchanges were closed because they are not trading 24 hours a day.
G1: closing price when closed
G2: Market price at the time of opening